I think the bigger news for us is actually the new 12-50mm lens. It has many outdoor friendly features, such as wide range, 24mm wide angle, lightweight, weatherproof, non-extending zoom, and very close focusing capability. It really hits the sweet spots of jack of all trades outdoor lens. The only reservation is only the sensor behind it lags greatly in DR and noise even bested by Fuji X10... I mean, why carry bigger cameras and lenses when Fuji X10 has better DR and brighter lens?

How I would like to see Olympus enjoy some very real success in the wake of everything that has happened. February is shaking up to be a big camera month, and Olympus could use a big win. As much as Sony has really changed the lanscape (pun intended) of photography in recent years, my sentiment is with Olympus and Fuji.

Couple of minor "corrections" presuming rumors can be corrected with other rumors.

EVF is 1.44M-dot resolution (VF-2 resolution) and there have been further rumors that it is a different type of EVF than commonly used. A hybrid ala Fuji? I'd be surprised but who knows?

Rear display is 610k OLED, fully articulated. OLED is the important bit, which anybody who's compared one against an LED display will attest. (Already used on the XZ-1 and EP-3.)

16MB sensor, although unknown whether it's the same as in the Lumix G3/GH2/GX1 or something different. Keeping my fingers crossed for integrated PDAF such as the Nikon N1 system, but prepared to be disappointed again. Need it for my 4/3 lenses.

From a usability standpoint I'm expecting enough body controls to make the menu system secondary in the field. If so, this is probably the camera to get me into the µ4/3 fold. The lens selection has matured a lot in the last year, lacking only 4/3 "SHG" grade equivalents, and there are plenty of super compact and light options for a second body when assembling a lightweight kit for long trips.

"The OM-D is expected to feature a magnesium, weather-sealed body that weighs 373 grams for just te body. It will sport a 16-megapixel sensor optimized for High Dynamic Range, FAST AF, 3D tracking, and a five-axis image stabilizer inside the body. It offers ISO options of 200 up to 25,600, a built-in digital viewfinder with 1.44 million dots resolution, and a 3-inch 610,000 pixel OLED tilting preview screen.

The camera will likely be unveiled at Olympus’ February 8 press event. Olympus recently trademarked the OM-D name and launched an ad campaign highlighting the letters “O” and “M.” The company also has placed a “coming soon” teaser on its website."

I have to say that I am excited about this camera. Looks like a nice upgrade to the E-P2 that I've been using. Olympus has a really nice range of lenses for their m4/3 cameras too, which is a big plus when compared with some of the other mirrorless system cameras.

I'm excited about this camera too, being a long time EPL1 user. I also hope it will have video capabilities that approach the GH2. I'm also very interested in the new Panasonic 12-35/2.8 and 35-100/2.8 m43 zoom lenses that are rumored to come out in 2012 (Oh wait, it is 2012.....c'mon already!).

As if that makes a camera, but been looking forward to this as I like to build stuff like airplanes that need documentation and having a camera take a pic every 3 min or 15min is great. Sure wish such a feature would be in the body of a lighter camera.